USA Ophthalmic Devices Market - Growth, Trends, and Forecasts (2020 - 2025)

The ophthalmic devices are the medical equipment's that are designed for diagnosis, surgical, and vision correction purposes. These devices have gained increasing importance and adoption due to high prevalence of various ophthalmic diseases such as glaucoma, cataract, and other vision related issues across the globe. Moreover, technological advancements in the field has boosted the adoption rate of the rate in the US. Although there have been advancements, the devices are stilled deemed unsafe, and can cause damages if not handled professionally. Hence all these factors have been restraining the US market growth.

Key Market Trends

Vision Correction Devices are Expected to Register a High CAGR During the Forecast Period

The Vision Correction Devices or corrective lenses are used to aid and improve vision for those with common refractive errors like myopia, hypermetropia, astigmatism, and presbyopia. These visual impairments result in low vision. Moreover, these conditions seem to be rising.

According to the National Eye Institute estimates, over 2.9 million American residents were detected with low vision, in 2014. The number is projected to increase further and is expected to reach around 5 million by 2030. Hence, as the number of people with low vision increase, the demand for vision correction devices are also expected to increase as well.

Competitive Landscape

Majority of the ophthalmic devices are being manufactured by the US players. Market leaders with more funds for research and better distribution system have established their position in the market.

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